Dogecoin Price Prediction
The machine learning algorithm at CoinCodex has made a prediction about the future price of Dogecoin, and it’s not looking too optimistic. Despite the current upward trend in the crypto market, the algorithm forecasts a decline in the price of DOGE over the next month.
Dogecoin Price At $0.065
The CoinCodex machine learning algorithm has estimated that the Dogecoin price will be around $0.0657 in the next month, which is lower than its current price of $0.076. This prediction contradicts the belief of many crypto analysts who expect DOGE to continue rising.
This forecast would mean a 17% drop in price, but it would still leave Dogecoin above its current 50-day Simple Moving Average (SMA) of $0.064, suggesting that the drop may be temporary.
Investing in Dogecoin
Despite the predicted decline, CoinCodex notes that it is still a good time to buy Dogecoin. The short-term price forecast is more bullish, with the algorithm expecting DOGE to reach $0.0795 in five days.
When Will DOGE Reclaim Its Previous All-Time High?
In addition to short-term predictions, the algorithm has also projected where the Dogecoin price will be in seven years and when it will reach its previous all-time high. The yearly high for 2024 is estimated at $0.345, dropping to $0.181 in 2025. However, in 2028, the algorithm predicts a return to its 2021 all-time high of $0.729.
Divergence from Shiba Inu Prediction
The prediction for DOGE contrasts with its rival Shiba Inu, which is expected to see a 10% increase in December. Currently, Dogecoin is trading at $0.077 and has seen an 8.08% gain on the weekly chart despite a 2.07% loss in the last day.
Hot Take: The Future of Dogecoin
The machine learning algorithm’s prediction for Dogecoin presents a contrasting outlook compared to analyst expectations and predictions for rival cryptocurrencies like Shiba Inu. As always, it’s essential to consider multiple factors and conduct thorough research before making any investment decisions.
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